Preparing a Statement of Cash Flows (Indirect Method) XS Supply Company is developing its annual...

Preparing a Statement of Cash Flows (Indirect Method) XS Supply Company is developing its annual financial statements at December 31, 2011. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized:

Additional Data:

a. Bought equipment for cash, $21,000.

b. Paid $6,000 on the long-term note payable.

c. Issued new shares of stock for $16,000 cash.

d. No dividends were declared or paid.

e. Other expenses included depreciation, $5,000; wages, $20,000; taxes, $6,000; other, $6,800. f. Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required:

1. Prepare the statement of cash flows for the year ended December 31, 2011, using the indirect method.

to utilities or taxes, assume that these expenses were fully paid in cash . Required: 1 . Prepare the statement of cash flows for the year ended December 31 , 2012, using the indirect method . 2 . Use the statement of cash flows to evaluate the company’s cash flows.

years ago by two hockey instructors. The company’s comparative balance sheets and income statement with additional information follow. Additional Data : a. Bought new hockey equipment for cash , $500. b . Borrowed $ 1 ,000 cash from the bank during the year . c . Other expenses included

hi attaching two files kindly seethis assessment is in group so I just need my part done. my part is the first three tasks in sales and marketing department section. any issues kindly get back to me
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